Rio Tinto Could Lose Guinea Mining Licence
Rio Tinto may lose its mining licence for the Simandou iron ore project in Guinea if it fails to hand-over documentation for the project, according to Mines and Geology Minister Mahmoud Thiam.
The government sent a letter to the company asking for documentation but has yet to receive any feedback, Thiam said in a statement to Bloomberg.
Last month, Rio Tinto approved an extra $170m for infrastructure to speed up development of the Simandou iron ore project.
Rio Tinto sold a $1.35bn stake in the $9.5bn project to Aluminum Corp of China in July.